Should the government bailout the American car companies?
I haven't been to this forum in a while and I'm surprised to see that there wasn't a post like this around.
Anyway, I am a registered Democrat and voted for O'Bama, because of the important reasons such as his his views on the economy, education, and healthcare, and his outstanding ability to communicate those views. In fact, he's the reason why I got into politics in the first place. However, I am not agreeing with his view to bailout the American car manufacturers. Don't get me wrong, because I have been a fan of domestic high performance cars, but one has to look at the bigger picture here. I mean, how can the government bailout (or even think about) bailing out companies with bad business models? or bailing people for being irresponsible enough to take out adjustable-rate mortgages?
I say, let the Big Three fail. Let them go into Chapter 11 and reorganize. Let them renegotiate their contract with the UAW, the heavy-ass anchor that's keeping these companies from being more competitive with their foreign competition. Then, they can come out of Chapter 11 and focus on becoming more profitable.
What do you think?
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